Company sells common shares at $0.35 per share in two tranches in deal
By Devika Patel
Knoxville, Tenn., Dec. 31 - BioLargo, Inc. settled a $970,086 private placement of stock on Dec. 17, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal was initiated in May and raised $770,086 on Sept. 30 and $200,000 after Sept. 30.
The company sold 571,429 common shares in the latest tranche. The price per share, of about $0.35, is a 40% premium to the Dec. 28 closing share price of $0.25.
Irvine, Calif.-based BioLargo researches and develops the BioLargo technology, which harnesses and delivers iodine on demand.
| Issuer: | BioLargo, Inc.
|
| Issue: | Restricted common stock
|
| Amount: | $970,086
|
| Price: | $0.35
|
| Warrants: | No
|
| Announcement date: | Dec. 31
|
| Settlement date: | Sept. 30 (for $770,086)
|
| Stock symbol: | OTCBB: BLGO
|
| Stock price: | $0.25 at close Dec. 28
|
| Market capitalization: | $15.98 million
|
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